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STATE OF
OFFICE OF SECURITIES
121 STATE
HOUSE STATION
_______________________________________
IN THE MATTER OF:
)
)
Biondo Asset Management LLC ) CONSENT
AGREEMENT
(CRD #129690)
) No. 06-013-CAG
_______________________________________)
This Agreement is entered into between the State of
WHEREAS, the parties agree as follows:
1.
At
all relevant times, it has been unlawful in
2.
Biondo has not been licensed in
3.
Biondo filed an application with the Office for licensing as a broker-dealer
on April 15, 2004.
4.
In
response to inquiries from the Office, Biondo disclosed
that it had effected at least forty-one (41) transactions for the accounts of
two (2)
5.
It
is the Office’s position that Biondo has acted as a
broker-dealer in
6.
Biondo has represented to the Office that the violations were inadvertent oversights.
7.
Both
parties desire an expeditious resolution of this matter.
NOW, THEREFORE, without trial or adjudication of
any issue of fact or law, and without Biondo admitting
or denying that its conduct violated the Revised Maine Securities Act, it is agreed
that:
1.
Biondo will comply with all licensing and other legal requirements
governing persons acting as securities broker-dealers in the State of Maine at
all times from the date hereof;
2.
In
lieu of the Office seeking the imposition of a penalty for the allegations contained
herein, Biondo will pay the sum of $3,000 to the Office
upon Biondo’s execution of this Agreement; and
3.
The
Office will not take further action against Biondo,
based upon its unlicensed status during the period preceding and including the
date of execution of this Agreement, PROVIDED,
however, that this paragraph applies only to those transactions previously disclosed
to the Office by Biondo.
September
14, 2005
s/Joseph R. Biondo,
C.E.O.
Date
Joseph R. Biondo, C.E.O.
Biondo Asset Management, LLC
September
21, 2005
s/Michael J. Colleran
Date
Michael J. Colleran
Securities Administrator
Reviewed by:
September
21, 2005
s/Bonnie E. Russell
Date
Bonnie E. Russell
Assistant Securities Administrator
Presented by:
September
20, 2005
s/Cathy J. Williams
Date
Cathy J. Williams
Licensing Coordinator